Pandora CEO to step down, stockholders cheer as shares climb 20%
0. phoneArena 07 Mar 2013, 20:00 posted on
After reporting a narrower than expected loss, Pandora CEO Joseph Kennedy announced he would be stepping...
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1. InspectorGadget80 (Posts: 6139; Member since: 26 Mar 2011)
Who gives a damn bout ceo or stockholders. All they do is collect money with large profits
3. jawknee530 (Posts: 4; Member since: 07 Mar 2013)
What? Did you even read the article?
"Pandora posted a $14.6 million loss"
2. jcpwn2004 (Posts: 314; Member since: 18 Jan 2012)
I wonder why the market is happy this guy is gone. What was he doing wrong? I don't personally use pandora but it seems like a lot of people are happy with it.
4. Maxwell.R (Posts: 158; Member since: 20 Sep 2012)
Very often a change in leadership when a company hasn't been posting profits for a while (or ever) is perceived as a positive outlook and shares rise on such news. It doesn't always work that way, but Pandora is more visible that way because it is a publicly traded company, so its books are available for all to see. Other players, like Spotify or Slacker are not under such scrutiny, except to their discreet investors.